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Tata Steel, Infosys To Stop Business in Russia Over Ukraine Invasion

Tata Steel joins the ranks of major Indian businesses such as Infosys to move their operations out of Russia.

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Amid exodus of companies from Russia as a reaction to its invasion of Ukraine, India's major businesses are also following the lead of Western multinationals.

Even though Prime Minister Narendra Modi has not taken a tough call against Russia, two of India's biggest companies – Tata Steel and Infosys – have decided to move their operations out of Russia.

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Tata Steel has plans in place that would make the transition as seamless as possible with minimal disruption to its business, according to a statement by the company.

"To ensure business continuity, all our steel manufacturing sites in India, the UK and the Netherlands have sourced alternative supplies of raw materials to end its dependence on Russia."
according to the statement released by Tata Steel.
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The announcement from Tata Steel comes on the heels of a recent announcement by Infosys, India's tech giant, who has also begun to move its operations out of Russia.

"We are providing some assistance for re-skilling of individuals that are displaced and, seeing as they move to the other geographies if they can work in some of our locations in eastern Europe,"
Infosys CEO Salil Parekh told reporters in a company-wide press conference.

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Topics:  Business   India-Russia 

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